Current Affairs - Finance - Discussion

9.99% is the maximum aggregate stake that the Reserve Bank of India (RBI) has approved for the Life Insurance Corporation of India (LIC) to acquire in ICICI Bank. The approval allows LIC to purchase up to 9.99% of ICICI Bank’s paid-up share capital or voting rights, subject to applicable regulatory conditions. The clearance, issued on September 4, 2026, remains valid for one year. However, the approval itself does not mean LIC has already acquired the additional shares. LIC must act on the permission within the specified validity period.